On my servers this bot reads robots.txt and then promptly ignores it. It's been banned for years ever since I caught it reading pages I disallowed in robots.txt. Also, and maybe more significantly, they don't appear to offer me anything in exchange for spidering my sites and that alone is enough to get even a legitimate spider banned. In the end it's a decision you have to make. :)
BTW, a spider named Webinator also eminates from the same company and I ban it too.